Oppenheimer & Co. Inc. cut its stake in Ferroglobe (NASDAQ:GSM) by 33.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,702 shares of the basic materials company’s stock after selling 19,247 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ferroglobe were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. PEAK6 Investments L.P. boosted its stake in Ferroglobe by 107.8% in the 4th quarter. PEAK6 Investments L.P. now owns 19,705 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 10,221 shares in the last quarter. Invictus RG boosted its stake in Ferroglobe by 143.1% in the 4th quarter. Invictus RG now owns 27,043 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 15,921 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Ferroglobe in the 4th quarter worth approximately $733,000. SG Americas Securities LLC acquired a new stake in Ferroglobe in the 4th quarter worth approximately $1,135,000. Finally, Driehaus Capital Management LLC acquired a new stake in Ferroglobe in the 4th quarter worth approximately $2,060,000. Institutional investors own 41.83% of the company’s stock.
Shares of Ferroglobe opened at $11.06 on Wednesday, according to Marketbeat Ratings. The company has a quick ratio of 1.04, a current ratio of 1.97 and a debt-to-equity ratio of 0.42. Ferroglobe has a 12 month low of $10.82 and a 12 month high of $11.05. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 85.15 and a beta of 1.61.
Several analysts have commented on the stock. Jefferies Group set a $19.00 price objective on shares of Ferroglobe and gave the company a “buy” rating in a research note on Monday, February 26th. BidaskClub upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. Zacks Investment Research cut shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 28th. TheStreet upgraded shares of Ferroglobe from a “c+” rating to a “b” rating in a research note on Friday, March 23rd. Finally, Oppenheimer set a $20.00 price objective on shares of Ferroglobe and gave the company a “buy” rating in a research note on Thursday, March 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Ferroglobe has a consensus rating of “Buy” and a consensus price target of $19.60.
Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicon metals that are used in personal care items, construction-related products, health care products, and electronics, as well as used in the manufacture of silicone chemicals; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.
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